Interim report for the period 1 July 2022 – 30 September 2022
Nov 25th, 2022 11:30 EST
Wicket Gaming AB (OTCQB: WIGAF) publishes interim report for the period 1 July 2022 30 September 2022.Summary of the periodThird quarter 01/07/2022 30/09/2022
- Net sales: SEK 5 thousand (0).
- Earnings before interest, taxes, depreciation and amortisation (EBITDA): SEK -3,462 thousand (-2,137).
- Net loss after financial items: SEK -3,958 thousand (-2,139).
- Earnings per share: SEK -0.61 (-0.40) before dilution and SEK -0.55 (-0.39) after dilution.
- Investments during the period amounted to SEK -5,869 thousand (-3,092).
- Cash flow for the period amounted to SEK -8,356 thousand.
Nine months 01/01/2022 30/09/2022
- Net sales: SEK 5 thousand (1).
- Earnings before interest, taxes, depreciation and amortisation (EBITDA): SEK -10,107 thousand (-5,521).
- Net loss after financial items: SEK -10,840 thousand (-5,572).
- Earnings per share: SEK -1.66 (-0.99) before dilution and SEK -1.50 (-0.97) after dilution.
- Investments during the period amounted to SEK -11,352 thousand (-4,187).
- Cash flow for the period amounted to SEK 8,473 thousand.
CEO STATEMENTOn 5 October 2022, Wicket Gaming became a group when the acquisition of the German edtech group Wegesrand was formally completed. The work involving the restructuring of the new group is ongoing, and we expect the entire consolidation process to be completed during Q4. The acquisition means that the entire group henceforth consists of around 30 full-time employees.Wegesrand is part of Wicket GamingThe work involving the consolidation of the Wegesrand Group has been ongoing for around 6 weeks, and we have placed particular focus on assessing the existing capacity within the group, with specific focus on ensuring a transfer of development resources to Cricket Manager Pro. The aim is to make ourselves completely independent of external consultants when it comes to the production of our most valuable IP, and we have succeeded in this regard given that Cricket Manager Pro is now produced in-house at our wholly owned subsidiary Linked Dimensions.The acquisition of Wegesrand was carried out during Q4, and the entire consolidation will be visible in our Q4 report when this is published in 2023. Wegesrand has delivered orders to a value of approximately SEK 10 million since the month of August and is demonstrating strength through its steady growth. In 2023 it is our intention to invest further in our German subsidiary group and ensure an even faster rate of growth. It is quite clear that Wegesrand is one of Europes leading operators in the Playful Learning and Serious Games segments. According to Grand View Research, the edtech market is currently worth 127 billion dollars and is expected to grow to around 430 billion dollars by 2030.Wegesrand is the first acquisition carried out by Wicket Gaming, but by no means will it be the last. Our intention is to monitor market developments and work systematically to identify potential acquisition candidates. Then, when the time is right, we will be ready to act.Cricket Manager Pro enters the monetisation phaseThe final touches are currently being applied to Cricket Manager Pro. A major server update was recently completed, and we are now able to quickly increase the scalability of Cricket Manager Pro. The primary reason for the server update has been our desire to have the server in India. Quite simply, we want to bring our game as close to the user as possible. India is our core market, and we want Indian users to enjoy an optimal user experience. Thanks to the server update and all new updates to our game, we have noticed clear improvements in our retention data (the number of players who return to the game) and user ratings. These positive effects have been particularly apparent in India. Our work will intensify in the coming weeks as we enter the monetisation phase. Now we intend to measure the factors that trigger our game users to make purchases inside the app. Through the work of cricket legend Jonty Rhodes and his regular feedback, we are ensuring that the genuine cricket feeling in the game is under constant development. By utilising the knowledge and experience of Jonty Rhodes and our other cricket stars, our aim is to maximise the number of downloads.During Q3 our share was listed on OTC Markets in the USA. There are around 25 million cricket fans in the USA, and we want to make it easy for them to invest in our company. The American market listing also gives us the opportunity to work together with international investors in the future.The financial outcome for the third quarter is in line with our expectations. The major change will take place in Q4 2022 with the consolidation of Wegesrand.For further information, please contact:Eric De Basso, CEO, Wicket Gaming AB Email: [email protected] Phone: +46 70 780 52 00This information is information that Wicket Gaming AB is obligated to publish pursuant to the EUs market abuse regulation. The information was provided under the auspices of the above contact person (CEO), for publication on 25/11/2022 at 17:30 CEST.About Wicket GamingWicket Gaming is a Swedish game development company that was founded in 2015. The Companys business idea is based on developing and distributing free-to-play games in the sports genre based on proprietary brands. Since the start of operations, the Company has worked on the development of its first title, Cricket Manager, a cricket manager game for mobile devices in which players create and own their own cricket club and compete against other players across the globe. The aim is to create one of the worlds most popular cricket manager games for mobile devices and to use a technical platform to expand the game portfolio to include other sport manager games.For more information, please see Wicket Gamings website: www.wicketgaming.com."